Wednesday, December 14, 2005

Has Oil bottomed out?



I believe so. I am also putting a buy rating out on CHK, CNQ, GMXR, ARD and the other oils. Just because oil isn't trading at $70 a barrel does not mean that these companies are not making money. I say stick to the winners, especially those that have based out and are either already in an uptrend or ready to resume one. I don't recommend chasing the highly speculative ones, unless you don't mind the extra risk.

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